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FinTech Aspire enters Hong Kong with ‘Money Service Operator’ license

By Gloria Mathias

May 29, 2024

  • APAC
  • Aspire
  • FinTech company
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Aspire, Fintech Solutions, Fintech Company, SME solutions, APAC, MSO License, Money Services Operator License, Fintech News, Fintech Expansion, Hong Kong News,  Aspire, a Singapore-based all-in-one finance platform, has announced that it has obtained a Money Service Operator (MSO) license issued by the Hong Kong Customs and Excise Department.

Aspire offers a unified suite of financial solutions to small and medium-sized enterprises (SMEs) in Hong Kong, including the ability to open local business accounts for payables and receivables management, international payments, and payment gateway solutions. Aspire’s integrated solution is built to help Hong Kong’s fast-growing SME segment across industries facilitate multi-currency cash management and domestic and cross-border money transfers.

Amidst the city’s macro challenges, Hong Kong is witnessing a local revisitation of business digitalization, with 93% of local SMEs recognizing digitalization as vital for their company’s growth. Aspire is well poised to meet the needs of this new generation of increasingly digital-minded startups and SMEs, providing them with a robust and integrated platform to streamline their business finance operations, ultimately saving time and money.

“With Hong Kong’s digital economy growing exponentially, there’s a clear demand for dependable, integrated financial solutions,” said Andrea Baronchelli, CEO & Co-Founder of Aspire. “At Aspire, we’ve always believed in tailoring our offerings to the unique needs of each market and we’re proud to be now able to empower Hong Kong SMEs with the financial tools they need to drive their growth.”

The acquisition of this operating license paves the way for Aspire’s broader strategic expansion across Asia while emphasizing its strict adherence to the regulatory requirements of each country in which it operates.

“Hong Kong stands as a thriving ecosystem for startups and fintech worldwide, offering a conducive environment for growth and innovation,” said King Leung, Global Head of Financial Services and FinTech at InvestHK. “We are happy to welcome regional fintech startups like Aspire and wish Aspire every success in Hong Kong.”

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